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Property profile & analytics
OFF-MARKET Estimated value $18,540,000
High-rise multifamily apartments

2542 Broad Ave Memphis, TN 38112-2612

222,671 SF 8.77 ac lot Built 1945
Entity Owned 3-yr Hold Free & Clear
Property ID
US80-1583369
Property profile
Verified
Property type High-rise multifamily apartments
Use group HIGH-RISE APARTMENTS
Year built 1945
Total area 222,671 SF
Lot 8.77 ac (382,021 SF)
Zoning code EMP
APN 033-020- - -00015
UPID US80-1583369
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Broad Avenue Arts District Shopping Center & Mall
  • The Links @ Memphis Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$25.21M
Blend (final) Blend
$18.54M
Owner & transaction history
Industrial Development Board · 3 yrs held
Industrial Development Board
since 2023
5 recorded transactions
2023
Price N/A
2021
Price N/A
2021
$1.4M
2020
Price N/A
1969
Price N/A
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

1. In the CA, CMU, EMP, WD, IH districts, outdoor runs are permitted. 2. In all other districts, outdoor runs are not permitted. All overnight care of animals must occur indoors. All pens, kennels and runs must be located within an enclosed building. I. Art or Photo Studio or Gallery The following standards apply to art or photo studios or galleries permitte…

Zone name Employment
General category INDUSTRIAL
Zone area 20,883.36 ac
Source CHAPTER 1
Top alternative use upside
Office building $26.6M +5.4%
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